2.6 Is Shareholder Value Maximization the Right Objective? In their widely cited book The Value Imperative—Managing for Superior Shareholder Returns‚ McTaggart‚ Kontes‚ and Mankins (1994) write‚ Maximizing shareholder value is not an abstract‚ shortsighted‚ impractical‚ or even‚ some might think‚ sinister objective. On the contrary‚ it is a concrete‚ future-oriented‚ pragmatic‚ and worthy objective‚ the pursuit of which motivates and enables managers to make substantially better strategic and organizational
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Ethical relativism is a view on morality stating that there are no universally accepted moral principles. Morality varies from one culture to another and no society has the right to impose their view of morality on other societies. Ethical relativism can be summed up to mean that morals are derived from what is culturally acceptable in any given society. ER is made up of two theses. The first is the diversity thesis‚ which simply says that moral practices are diverse across cultures. Ruth Benedict
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Modern Ethical Theories Psychological Egoism vs. Ethical Egoism When we discuss modern ethics there are two theories that emerge above all others and although both are supported they are often controversial in nature. Ethical Egoism states that we should put ourselves and our interests before those of others leading to the conclusion that if we do things that are only in our own self interest then we have achieved morality. Psychological Egoism presumes that we always put ourselves and our interests
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first? The answer is their ethical duty‚ meaning every nurse is guided by ethical theories and principles which help guide them as a patient advocate. It is these ethics that make a nurse so valuable to clients and ultimately makes a nurse the client’s best advocate. In this paper the core ethical theories and principles will be discussed and how exactly this helps RN’s be the best possible advocate and what benefits the clients themselves derive from these ethical theories. In order to properly understand
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compare contrasting ethical principles and theories and the legal issues surrounding this topic. The ethical principles outlined will be; autonomy‚ non-maleficence‚ benevolence and utility. Furthermore the ethical theories supporting these principles that will also be outlined are; utilitarianism‚ deontology (both Ross and Kant’s version)‚ Rawls’s theory of justice‚ natural law ethics‚ virtue ethics and care ethics (Schwartz‚ Preece and Hendry‚ 2002). Utilitarianism An ethical theory which falls into
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The role of ethical theories in ethical reasoning and behavior within organizations - Research proposal Sigalit Pasternak‚ Phd student The Faculty of Management Tel Aviv University Supervisor: Dr. Ishak Saporta Introduction Business ethics is a specialized branch of ethics focusing on how moral standards apply to business organizations and behavior (Velasques‚ 1998). As such‚ it cannot be understood separately from the general ideas of ethics‚ and the general ethical theories apply to business ethics
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individual values. You may disagree with someone and believe your view is superior‚ relative to you as an individual; more often‚ relativism is described in terms of the values of the community in which one lives. The view of ethical relativism regards values as determined by one’s own ethical standards‚ often those provided by one’s own culture and background. Rather than insisting that there are moral absolutes‚ moral claims must be interpreted in terms of how they reflect a person’s viewpoint; moral claims
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Traditional Ethical Theories Consequentialist (teleological) Non- Consequentialist (deontological) - Act in the way that brings about the best consequences - Concentrate on the act being perform Egoism (outcome: desirability) Kant (ethics of duties) Nature: Nature: act accordingly to self-interest based on desires free (Adam Smith) Example: Correct if morals actors think it is correct (rational/logical/reasonable) not depends on situations Categorical imperative- right
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this issue very carefully. This chapter talks about Workable Ethical Theories such as Kantianism‚ Act Utilitarianism‚ Rule Utilitarianism‚ Social Contrast Theory‚ and others. If I had to choose one of the workable ethical theories in chapter 2 and use it for all my personal ethical decision making‚ I would choose Kantianism. According to the book “Ethics for the information age” by Michael J. Quinn (2014)‚ Kantianism‚ an ethical theory of the German philosopher Immanuel Kant‚ is able to go beyond
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Ethical Theory Summary This is an outline and summary of three of the most prominent ethical theories in the history of philosophy. (Note that all three of these represent different ethical absolutist/universalist theories. A view known as ethical relativism follows these.) Please take this as a sketch that invites you to investigate these ethical theories further. After each brief sketch‚ I will provide some web links that will be helpful to read. Virtue Ethics (especially Aristotle)
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